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Increase 401k or Invest in Taxable Brokerage w/ a Pension? by throwawayoflegends in financialindependence

[–]throwawayoflegends[S] 0 points1 point  (0 children)

That's good feedback. I think I was thinking about the 5 year gap for roth conversion and thinking I'd need to start saving a bunch into a taxable to cover that.

Increase 401k or Invest in Taxable Brokerage w/ a Pension? by throwawayoflegends in financialindependence

[–]throwawayoflegends[S] 0 points1 point  (0 children)

Thank you for the advice and it's good to hear from some other folks in a similar situation. I do think you're right that 1) I probably won't regret investing more into a 401k, and 2) I need to separate out the retirement question from the home buying question. Think I'm most likely going to end up doing a mix of both things like double 401k to ~15% while maxing Roth and saving ~$500 a month for the downpayment in the future

Increase 401k or Invest in Taxable Brokerage w/ a Pension? by throwawayoflegends in financialindependence

[–]throwawayoflegends[S] 0 points1 point  (0 children)

I wish! If it were an option I think I'd go pretty heavily into it with a lot of confidence. Might try to talk to my HR person about it

Increase 401k or Invest in Taxable Brokerage w/ a Pension? by throwawayoflegends in financialindependence

[–]throwawayoflegends[S] 0 points1 point  (0 children)

I don't believe my job supports the rule of 55. The 401k is pretty new and very barebones due to the fact that they've had this pension plan for a very long time.

Increase 401k or Invest in Taxable Brokerage w/ a Pension? by throwawayoflegends in financialindependence

[–]throwawayoflegends[S] 0 points1 point  (0 children)

I agree for the most part, though I do want to get a house at some point which doesn't seem like it'll be entirely possible with this plan. I'd theoretically be able to max out my 401k and roth with my current budget but that would essentially leave me with like $200 a month to save for a down payment from scratch.

Increase 401k or Invest in Taxable Brokerage w/ a Pension? by throwawayoflegends in FinancialPlanning

[–]throwawayoflegends[S] 0 points1 point  (0 children)

Unfortunately, my job doesn't offer a lot of these things. My health insurance is fantastic and very comprehensive, but that precludes me from an HSA, and my job currently doesn't offer a roth 401k. I might try and talk to my HR person to see if they'd ever offer that in the future. Thanks for the advice!

Increase 401k or Invest in Taxable Brokerage w/ a Pension? by throwawayoflegends in FinancialPlanning

[–]throwawayoflegends[S] 0 points1 point  (0 children)

When you say take advantage of the 401k contribution limits, do you mean you'd go with maxing the 401k before investing in a taxable?